Tuesday, August 16, 2016

Volkswagen, U.S. Justice Dept Discuss Settling Criminal Probe

Volkswagen AG and the U.S. Justice Department have held preliminary settlement talks about resolving a criminal probe into the automaker’s diesel emissions scandal, two sources briefed on the matter said.

Reuters reported in June that a criminal settlement could include a consent decree, an independent monitor overseeing the German automaker’s conduct and significant yet-to-be determined fines for emissions violations.
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Under the Justice Department deal, VW will spend $2 billion over 10 years to fund programs directed by California and EPA to promote construction of infrastructure to charge electric vehicles, development of zero-emission ride-sharing fleets and other efforts to boost sales of cars that do not burn petroleum.